Canal Capital Management LLC Has $2.05 Million Position in JPMorgan Chase (JPM)

Canal Capital Management LLC boosted its holdings in JPMorgan Chase (NYSE:JPM) by 18.3% in the 4th quarter, Holdings Channel reports. The firm owned 19,161 shares of the financial services provider’s stock after buying an additional 2,958 shares during the quarter. JPMorgan Chase comprises approximately 1.1% of Canal Capital Management LLC’s investment portfolio, making the stock its 26th biggest holding. Canal Capital Management LLC’s holdings in JPMorgan Chase were worth $2,049,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. grew its position in JPMorgan Chase by 0.4% during the second quarter. Jackson Grant Investment Advisers Inc. now owns 3,289 shares of the financial services provider’s stock valued at $301,000 after acquiring an additional 12 shares during the period. Sunbelt Securities Inc. grew its position in JPMorgan Chase by 0.5% during the second quarter. Sunbelt Securities Inc. now owns 5,128 shares of the financial services provider’s stock valued at $469,000 after acquiring an additional 26 shares during the period. Fort Pitt Capital Group LLC grew its position in JPMorgan Chase by 0.4% during the second quarter. Fort Pitt Capital Group LLC now owns 9,084 shares of the financial services provider’s stock valued at $830,000 after acquiring an additional 37 shares during the period. Cutter & CO Brokerage Inc. grew its position in JPMorgan Chase by 0.7% during the second quarter. Cutter & CO Brokerage Inc. now owns 7,050 shares of the financial services provider’s stock valued at $644,000 after acquiring an additional 50 shares during the period. Finally, Marcus Capital LLC grew its position in JPMorgan Chase by 1.0% during the second quarter. Marcus Capital LLC now owns 5,250 shares of the financial services provider’s stock valued at $480,000 after acquiring an additional 50 shares during the period. Hedge funds and other institutional investors own 74.50% of the company’s stock.

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JPM has been the subject of a number of research reports. Buckingham Research raised JPMorgan Chase from a “neutral” rating to a “buy” rating in a research report on Thursday, December 21st. Wells Fargo set a $120.00 price target on JPMorgan Chase and gave the company a “buy” rating in a research report on Wednesday, December 20th. Credit Suisse Group raised JPMorgan Chase to a “buy” rating and set a $120.00 price target for the company in a research report on Friday, January 5th. Vining Sparks reissued a “buy” rating and set a $120.00 price target on shares of JPMorgan Chase in a research report on Friday, January 12th. Finally, Argus boosted their price target on JPMorgan Chase from $109.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, January 12th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $112.51.

In related news, insider Ashley Bacon sold 16,434 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $112.22, for a total value of $1,844,223.48. Following the completion of the transaction, the insider now owns 98,811 shares of the company’s stock, valued at $11,088,570.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Scher sold 26,532 shares of the stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $113.42, for a total value of $3,009,259.44. The disclosure for this sale can be found here. Insiders sold 152,047 shares of company stock valued at $17,098,115 in the last three months. 0.88% of the stock is currently owned by company insiders.

Shares of JPM opened at $110.62 on Thursday. The stock has a market capitalization of $378,888.28, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 1.86 and a beta of 1.24. JPMorgan Chase has a one year low of $81.64 and a one year high of $119.33. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.24.

JPMorgan Chase (NYSE:JPM) last issued its quarterly earnings results on Friday, January 12th. The financial services provider reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.07. The firm had revenue of $24.15 billion during the quarter, compared to the consensus estimate of $24.87 billion. JPMorgan Chase had a return on equity of 11.63% and a net margin of 21.46%. JPMorgan Chase’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.71 earnings per share. research analysts anticipate that JPMorgan Chase will post 8.89 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Friday, April 6th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Thursday, April 5th. JPMorgan Chase’s dividend payout ratio is currently 32.61%.

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